$U (-5,68%) | Unity Q3 Earnings Highlights:
🔹 Revenue: $446.5M (Est. $428.2M) 🟢
🔹 EPS: -$0.31 (Est. -$0.39) 🟢
🔸 Appointed new CFO
Raised FY24 Guidance:
🔹 Revenue for Strategic Portfolio: $1.703B-$1.708B (previously $1.680B-$1.690B)
🔹 Adjusted EBITDA: $363M-$368M (previously $340M-$350M)
Outlook for Q4 2024:
🔹 Revenue for Strategic Portfolio: $422M-$427M
🔹 Adjusted EBITDA: $79M-$84M
Segment Revenue:
🔹 Create Solutions: $132M; UP +5% YoY
🔹 Grow Solutions: $298M; DOWN -5% YoY
🔹 Non-Strategic Portfolio: $17M; DOWN -84% YoY
Other Key Metrics:
🔹 Gross Booking Value (GBV): $20.1B; UP +10% YoY
🔹 Adjusted EBITDA: $92M (Est. $75-80M); UP +22% YoY
🔹 Active Listings: Over 8M
Product Updates:
🔸 Launched Unity 6, the latest, most stable version, with end-to-end multiplayer workflows, improved mobile web targeting, and enhanced graphics capabilities.
🔸 Transitioned from Runtime Fee to a subscription model with new pricing changes effective January 2025.
Strategic Developments:
🔸 Appointed new CFO, Jarrod Yahes, beginning January 1, 2025.
🔸 Expanded customer base outside of gaming, with partnerships like KLM (VR pilot training) and Deutsche Bahn (AR customer guidance and VR staff training).
Business Highlights:
🔸 Significant progress on data infrastructure for advertising, enabling better transparency and user engagement insights.
🔸 Positive trends in subscription renewals and Unity 6 adoption following pricing adjustments.
CEO’s Commentary:
🔸 "Unity’s mission to support the full lifecycle of game development and interactive experiences positions us for long-term growth, supported by stable subscription growth and the adoption of Unity 6."